MongoDB (NASDAQ:MDB) Updates FY 2023 Earnings Guidance

MongoDB (NASDAQ:MDBGet Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided earnings per share guidance of -$0.31–$0.16 for the period, compared to the consensus earnings per share estimate of -$0.37. The company issued revenue guidance of $1.17 billion-$1.19 billion, compared to the consensus revenue estimate of $1.18 billion.MongoDB also updated its Q2 2023 guidance to -$0.31–$0.28 EPS.

A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of MongoDB from $405.00 to $425.00 in a report on Thursday, June 2nd. Stifel Nicolaus cut their price target on shares of MongoDB from $425.00 to $340.00 in a report on Thursday, June 2nd. Barclays increased their price objective on shares of MongoDB from $330.00 to $338.00 and gave the company an overweight rating in a research note on Thursday, June 2nd. Piper Sandler dropped their price objective on shares of MongoDB from $585.00 to $430.00 and set an overweight rating for the company in a research note on Thursday, June 2nd. Finally, Credit Suisse Group dropped their price objective on shares of MongoDB from $650.00 to $500.00 and set an outperform rating for the company in a research note on Thursday, June 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, MongoDB has an average rating of Buy and a consensus target price of $439.41.

Shares of NASDAQ MDB opened at $295.59 on Wednesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 4.02 and a current ratio of 4.16. MongoDB has a 52-week low of $213.39 and a 52-week high of $590.00. The firm has a 50 day moving average price of $332.03 and a two-hundred day moving average price of $394.73. The stock has a market cap of $19.97 billion, a P/E ratio of -61.07 and a beta of 1.00.

MongoDB (NASDAQ:MDBGet Rating) last posted its quarterly earnings data on Wednesday, June 1st. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($1.34) by $1.54. MongoDB had a negative net margin of 32.75% and a negative return on equity of 45.56%. The company had revenue of $285.45 million during the quarter, compared to analysts’ expectations of $267.10 million. During the same period in the prior year, the company posted ($0.98) earnings per share. MongoDB’s revenue for the quarter was up 57.1% compared to the same quarter last year. Analysts predict that MongoDB will post -5.48 earnings per share for the current fiscal year.

In other MongoDB news, CEO Dev Ittycheria sold 35,000 shares of the firm’s stock in a transaction on Wednesday, April 6th. The shares were sold at an average price of $412.38, for a total value of $14,433,300.00. Following the completion of the sale, the chief executive officer now directly owns 204,744 shares in the company, valued at $84,432,330.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Cedric Pech sold 309 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $443.77, for a total transaction of $137,124.93. Following the completion of the sale, the executive now owns 46,135 shares of the company’s stock, valued at $20,473,328.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,809 shares of company stock valued at $32,992,875. 5.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in MDB. Wellington Management Group LLP lifted its stake in shares of MongoDB by 26.4% in the first quarter. Wellington Management Group LLP now owns 672,545 shares of the company’s stock valued at $298,334,000 after buying an additional 140,260 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of MongoDB by 2.1% in the first quarter. Vanguard Group Inc. now owns 5,970,224 shares of the company’s stock valued at $2,648,332,000 after buying an additional 121,201 shares in the last quarter. Altimeter Capital Management LP lifted its stake in shares of MongoDB by 23.2% in the first quarter. Altimeter Capital Management LP now owns 308,000 shares of the company’s stock valued at $136,626,000 after buying an additional 58,000 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of MongoDB in the first quarter valued at $24,708,000. Finally, Vista Equity Partners Management LLC bought a new position in shares of MongoDB in the fourth quarter valued at $23,454,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Company Profile (Get Rating)

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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